The income tax (I-T) department has now enabled the ITR-5 Excel form online for firms, Limited Liability Partnerships (LLP), Associations of Persons (AOP), and Bodies of Individuals (BOI).
In a post shared on the social media platform X on Saturday, August 9, the income tax department noted, “Kind Attention Taxpayers! Excel Utility of ITR-5 is live now and is available for filing.”
Who should file ITR-5?
ITR- form 5 is to be filed by a firm, Limited Liability Partnership (LLP), Association of Persons (AOP), Body of Individuals (BOI), which also includes trusts such as private trust, private discretionary trust, gratuity trust, and PF Trust, all of which are not eligible to file Form ITR-7. It also applies to artificial juridical persons as referred to in section 2(31)(vii), local authorities, and societies.
